ECOWAS - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Nutmeg, Mace And Cardamoms 2024
Market Size for Nutmeg, Mace And Cardamoms in ECOWAS
In 2022, after seven years of growth, there was significant decline in the ECOWAS nutmeg, mace and cardamom market, when its value decreased by X% to $X. Over the period under review, consumption, however, posted a prominent increase. The level of consumption peaked at $X in 2021, and then plummeted in the following year.
Production of Nutmeg, Mace And Cardamoms in ECOWAS
In value terms, nutmeg, mace and cardamom production reached $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.
The country with the largest volume of nutmeg, mace and cardamom production was Cote d'Ivoire (X tons), comprising approx. X% of total volume. Moreover, nutmeg, mace and cardamom production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Togo (X tons), fourfold. Benin (X tons) ranked third in terms of total production with a X% share.
In Cote d'Ivoire, nutmeg, mace and cardamom production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Togo (X% per year) and Benin (X% per year).
In 2022, the average yield of nutmeg, mace and cardamoms in ECOWAS stood at X tons per ha, standing approx. at 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, approx. X ha of nutmeg, mace and cardamoms were harvested in ECOWAS; standing approx. at the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with a decrease of X% against the previous year. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.
Exports of Nutmeg, Mace And Cardamoms
Exports in ECOWAS
After two years of growth, shipments abroad of nutmeg, mace and cardamoms decreased by X% to X tons in 2022. In general, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
In value terms, nutmeg, mace and cardamom exports shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
Sierra Leone was the largest exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Ghana (X tons), comprising a X% share of total exports. The following exporters - Cote d'Ivoire (X kg), Gambia (X kg) and Senegal (X kg) - each finished at an X% share of total exports.
Sierra Leone was also the fastest-growing in terms of the nutmeg, mace and cardamoms exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Gambia (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Sierra Leone (X p.p.), Ghana (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2022, respectively.
In value terms, Sierra Leone ($X) emerged as the largest nutmeg, mace and cardamom supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.
From 2012 to 2022, the average annual growth rate of value in Sierra Leone stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Gambia (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Gambia ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.
Imports of Nutmeg, Mace And Cardamoms
Imports in ECOWAS
In 2022, after three years of growth, there was significant decline in overseas purchases of nutmeg, mace and cardamoms, when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted sharply in the following year.
In value terms, nutmeg, mace and cardamom imports contracted remarkably to $X in 2022. Overall, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell dramatically in the following year.
Imports by Country
Ghana represented the largest importer of nutmeg, mace and cardamoms in ECOWAS, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Senegal (X tons) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%).
Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.
In value terms, Ghana ($X) constitutes the largest market for imported nutmeg, mace and cardamoms in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Senegal (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price, however, recorded resilient growth. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank in the following year.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the import price figures.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 702 - Nutmeg, mace, cardamoms
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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